Singapore Airlines (SIA) and Tata Sons Group have announced plans to merge Air India and Vistara.
First Published Nov 30, 2022, 1:56 PM IST
Singapore Airlines (SIA) and Tata Sons Group have announced plans to merge Air India and Vistara.
Through this, Air India will get a 25.1 percent stake in Singapore Airlines and an investment of Rs 2,058 crore.
Tata Sons Group said that the merger of Air India, Vistara, AirAsiaIndia and Air India Express will be completed by March 2024. Work to connect Air India Express and AirAsia India has already started. Note that this will take 12 months.
A merger of Air India and Vistara will make it the 2nd largest domestic airline in India.
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Singapore Airlines holds a 49 percent stake in Vistara. Singapore Airlines will get 25.1 per cent stake in merger with Air India. Also, an additional Rs.2,058 crore will be invested in Air India.
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Tata Group Chairman N. Chandrasekhar said, “The Vistara-Air India merger is an important milestone. Air India will be restructured to create a world-class airline. Air India will focus specifically on network and service expansion to attract customers. “Safety, trust and efficiency will be the objective,” he said
Last Updated Nov 30, 2022, 1:56 PM IST
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